February Crude Oil Trading

I got poo pooed for suggesting a bull run for Nymex on the basis of fundamentals. What are the fundamentals then? Somewhat more difficult to grasp than with a Dow or a FTSE100 constituent.

The fundamentals of oil are not the possible fudging of the stats by the US or the actual fact of the stats but the pure fact that oil is as vital to economic development as as oxygen to the air to enable us to breathe and live.

Except, oil is a reducing commodity whereas oxygen is renewable. And, no, I have not been at the crack, whichever wise cracker is about!

PS and ecopolitics is now ever more renewable: gone the Russia/Ukraine spat, now we have destabalisation in the Middle East by the political demise of the moderate governance of Ariel Sharon.